Word:

Bankrupt

Bank´rupt
n.1.(Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors.
2.A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person.
3.(Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities.
a.1.Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
2.Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
3.Relating to bankrupts and bankruptcy.
4.Destitute of, or wholly wanting (something once possessed, or something one should possess).
Bankrupt law
a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See Insolvent, a.
v. t.1.To make bankrupt; to bring financial ruin upon; to impoverish.
[imp. & p. p. Bankrupted; p. pr. & vb. n. Bankrupting.]
Noun1.Bankruptbankrupt - someone who has insufficient assets to cover their debts
Synonyms: insolvent
Verb1.bankrupt - reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"
Synonyms: ruin, smash, break
Adj.1.bankrupt - financially ruined; "a bankrupt company"; "the company went belly-up"
Synonyms: belly-up

BANKRUPT. A person who has done, or suffered some act to be done, which is by law declared an act of bankruptcy; in such case he may be declared a bankrupt.
     2. It is proper to notice that there is much difference between a bankrupt and an insolvent. A man may be a bankrupt, and yet be perfectly solvent; that is, eventually able to pay all his debts or, he may be insolvent, and, in consequence of not having done, or suffered, an act of bankruptcy. He may not be a bankrupt. Again, the bankrupt laws are intended mainly to secure creditors from waste, extravagance, and mismanagement, by seizing the property out of the hands of the debtors, and placing it in the custody of the law; whereas the insolvent laws only relieve a man from imprisonment for debt after he has assigned his property for the benefit of his creditors. Both under bankrupt and insolvent laws the debtor is required to surrender his property, for the benefit of his creditors. Bankrupt laws discharge the person from imprisonment, and his property, acquired after his discharge, from all liabilities for his debts insolvent laws simply discharge the debtor from imprisonment, or liability to be imprisoned, but his after-acquired property may be taken in satisfaction of his former debts. 2 Bell, Com. B. 6, part 1, c. 1, p. 162; 3 Am. Jur. 218.

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Translate Bankrupt to Spanish, Translate Bankrupt to German, Translate Bankrupt to French
Browse
banker's draft
Bankeress
Bankers' note
Bankhead
Bankia
Bankia setaceae
Banking
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Banking house
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Banking pin
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banknote
bankroll
-- Bankrupt --
Bankrupt law
Bankruptcy
Banks
Banks of rivers
banksia
Banksia integrifolia
banksia rose
Bankside
Banlieue
banned
Banner
Banner fish
Bannered
Banneret
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Bannerol
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